Greystone Starts Waterbridge 47 Condos in Brooklyn

Work is under way on Waterbridge 47, a residential development in the Venegar Hill/Dumbo neighborhood of Brooklyn. The developer, the New York-based Greystone, plans to sell the 25 residencies as condos.

New York—Work is under way on Waterbridge 47, a residential development in the Venegar Hill/Dumbo neighborhood of Brooklyn. The developer, the New York-based Greystone, plans to sell the 25 residencies as condos.

Waterbridge 47 will feature one-, two- and three-bedroom units, including three “townhouse-inspired” duplex units and two penthouses with wraparound terraces. Some units will include patios and balconies, and private roof terraces. Units will range in size from about 700 square feet for a one bedroom to more than 1,200 square feet three bedrooms, with prices ranging from $850,000 to $2.2 million.

Brooklyn’s still a hot condo market. According to the Elliman Report for the third quarter of 2014, the average sales price for Brooklyn residential properties is more than $823,000, down from the previous quarter, but still up 7.3 percent compared with a year ago. Condos for sale spent an average of 65 days on the market during 3Q14, compared with 90 days the quarter before.

Common amenities at Waterbridge 47 will include a wine cellar and tasting room; off-site concierge access; roof deck with skyline views; fitness center; inner courtyard; and children’s playroom. There will also be bicycle storage and private parking at the property.

Architect AB Architekten designed the property, with interiors by Durukan Design.The Brooklyn-based brokerage aptsandlofts.com is handling marketing and sales of the condos